A Study On The Influence Of Parent’s Housing Assets On The Employment Of Young Children

As an indispensable force in China’s development and construction and the main force to realize the great rejuvenation of the Chinese nation,the employment of young people has always been a topic of common concern and social hot issues of the whole society.Under the pressure of the current global epidemic,the expansion of college enrollment in China and the labor force fault caused by aging,the employment situation of young people is not optimistic,and the employment rate remains low.At the same time,the popularity of "public examination fever" and "relying on editing fever" has not weakened,and the structural contradiction of employment has not been effectively solved.On the other hand,family real estate in China is not only used for residential purposes but also has certain investment attributes.After nearly two decades of dividends in the real estate market,the housing assets of our parents have received significant appreciation..Based on theoretical and empirical analysis,this paper aims to explore the relationship between parents’ housing assets and children’s labor supply and employment choice.Using the data of China Household Finance Survey(chfs)in 2017 and probit model,this paper empirically analyzes the impact of parents’ housing assets on the employment of young children.The results show that the increase of parents’ housing assets will bring "asset effect" and significantly reduce the labor participation of young children.At the same time,for young children who participate in work,the housing asset effect will effectively promote their choice of work within the system,And there are some differences between only one suite for parents and multiple Suites for parents.Through the introduction of housing net assets,the study found that the impact of parents’ real estate on children’s employment has a significant "wealth effect".After the introduction of housing debt,it is found that housing debt will further inhibit the labor participation of young children due to its "leverage effect".Through the heterogeneity analysis,it is found that the parental housing assets have a greater impact on the labor participation of male youth;In terms of educational level,the impact on young children above junior college is less than that below junior college;Distinguishing whether the child is the only child or not,we can see that the parents’ housing assets will significantly inhibit the only child’s labor participation and significantly promote their work in the choice system;Finally,in order to overcome the endogenous problem generated in this paper,we introduce "the average housing assets owned by the parents of the city where the sample is located" as an instrumental variable and estimate it by IV probit,which still obtains robust research results.The conclusions of this study have important implications for the government to formulate relevant real estate regulation policies,financial institutions to enhance Financial innovation capabilities and youth employment guidance.